Commodities

Gold price rises again – Analysis - 28-12-2018

2018-12-28 04:57:48 GMT (Economies.com)

Gold price ended yesterday’s trading above the bullish channel’s resistance, to confirm the continuation of the bullish bias on the intraday basis, which targets testing 61.8% Fibonacci correction level at 1286.70 as a next station.

 

Therefore, the bullish trend will be suggested in the upcoming sessions unless breaking 1270.00 and holding below it, noting that breaching the targeted level will extend Gold price gains to reach 1316.65 on the near term basis.

 

Expected trading range for today is between 1265.00 support and 1300.00 resistance.

 

Expected trend for today: Bullish

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